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2009 COLA Jumping 5.8% for Some Federal Retirees

COLA for FERS

Jim
Fed. Retired
Thu Oct 16, 2008 9:19 AM

Post Reply

Ralph,

In light of the horrific stock market tumble; is there any hope for some relief from the 2% cap on COLAs for FERS retirees? Thanks

Jim

Re: COLA for FERS

Editor
FedSmith.com
Thu Oct 16, 2008 10:26 AM
While one should never say "never," I think changing the CPI rate on the basis of stock market activity falls into the category of wishful thinking.

Re: COLA for FERS

I am From Missouri
DoD
Fri Oct 17, 2008 11:28 AM
I don't think there is a 2% cap except when the COLA is 3%. After that the cap is the COLA minus 1%. So FERS would get 4.8% and CSRS would ger 5.8%.

Negative CPI

Civil Engineer
Army
Thu Oct 16, 2008 10:01 AM

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I plan on retiring on January 2, 2009; what happens if we have deflation and the CPI goes down? What impact does this have on the COLA for that year and the following year?

Re: Negative CPI

Diversity Manager
DOL
Thu Oct 16, 2008 3:55 PM
it just goes to 0, no COLA for that year but they won't take any money away from you

RETIREE HEALTH PROGRAM

SHIFT SUPERVISOR
U.S. ARMY CORPS. OF ENGRS.
Thu Oct 16, 2008 1:00 PM

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in two years i may retire. i am under the csrs program. i will continue to pay for blue cross and blue shield coverage until i qualify for medicare. are my premiums as a retiree based on a group plan? when i retire at age 59 or 60, is it reccommended i keep my medical coverage, even when i qualify for medicare?

Re: RETIREE HEALTH PROGRAM

Retired AF Civilian
USAF
Thu Oct 16, 2008 2:29 PM
When my spouse hit 65, we "suspended" his Fed Health Insurance. He had only Medicare and his military TriCare for Life. With Medicare you really need to have a supplemental. TriCare is quite good. But my spouse became very ill with cancer and during the last year's open season, we "reinstated" his Fed Health Insurance just to be on the safe side and had triple coverage. Spouse died last month, but I do not regret reinstating his Fed Health coverage. Thought I must say, Medicare and his Tricare paid everything without out of pocket costs to us. Bear in mind this. Medicare does NOT pay for self-administered medications while in the hospital. A lesson learned. Tricare would pay 75% of those costs after meeting a deductible though. Hope this helps some readers.

5.8 COLA in first year of retirement.

Paul, letter carrier retired under CSRS
U.S. Postal Service
Thu Oct 16, 2008 1:24 PM

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I retired on close of business Dec. 31st 2007. I received my first full pention check from OPM on Feb 1st 2008. Does this mean I will get a raise of 5.8% of 11/12ths minus the $300.00 a month ($3,600.00 a year) held out for survivor reduction?

Disabled Vets

Fed Worker
DOD
Fri Oct 17, 2008 6:47 AM

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Vets will get 2.8% this year, going back to what Dr.Chu said in 2005 about how the Veterans benefits are really dragging down national security due to their costs. A truly dispicable attitude of course shared by many, and from a Vietnam Vet now less. Remember it was the Vets that allowed the freedoms that gave us a country that can still ill afford this 5.8% raise. Granted Colas should have been consistent over time, it's sad to watch some groups get the shaft by politicians whom have sold their souls to the devil. Happy Halloween.

Correction

Fed Worker
DOD
Fri Oct 17, 2008 8:56 AM

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I may have been wrong, I am looking for info to prove I am wrong on this one. I hope I was wrong. I am right about Dr.Chu's statement.

5.8% cola

ret CSRS
ret dod of us airforce
Fri Oct 17, 2008 12:35 PM

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health care coast for blue cross when up 8% and i have to pay for meductios, labs x rays and 15.oo dr, office visits so oh yest taexes from 184 and my bluse cross was 143.66 month and so next years my taxes will be 211.00 and yes blue cross and no 145.66 to 151 so where is the rise ret/dod gs4 thank you very much .hell all my bills come to 1332 dallors a month and income is where! !!!!! i in the below income agin

Re: 5.8% cola

Diversity Manager
DOL
Fri Oct 17, 2008 4:41 PM
Good reason you were a GS4 you can't speak English

Re: 5.8% cola

forestry tech
usda forest service
Wed Dec 17, 2008 11:37 AM
no sabe amigo.
Total Comments: 28
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